Preference heterogeneity and its equilibrium path

DOI10.1002/OCA.2720MaRDI QIDQ5159831zbMATH OpenOpenAlexFDO

Authors Ling Peng, Peter E. Kloeden

Publication date 28 October 2021

Published in Optimal Control Applications \& Methods (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1002/oca.2720

zbMATH Keywords

equilibrium pathHamilton-Jacobi-Bellman equationnaive solutionprecommitted solutionpreference heterogeneitysophisticated solutiontime-inconsistency

Mathematics Subject Classification ID

Decision theory (91B06) Individual preferences (91B08)

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(7)

• Preference and the cost of preferential choice
• Inference of preference heterogeneity from choice data
• Homothetic and weakly homothetic preferences
• A solution method for heterogeneity involving present bias
• Understanding time-inconsistent heterogeneous preferences in economics and finance: a practice theory approach
• Diversification preferences in the theory of choice
• Diversity of preferences in an unpredictable environment

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